The U.S. futures market is getting a new player. Miami International Holdings (MIAX), best known for its regulated equities and options exchanges, announced it will begin supporting financial futures trading on its MIAX Futures™ Onyx platform starting February 22, 2026 (for the Feb. 23 trade date).

The move puts MIAX, which trades on the NYSE under ticker MIAX, in direct competition with incumbents like CME Group and ICE, while leveraging the company’s reputation for ultra-low latency, high-throughput exchange technology.

What’s Launching First

The first futures products hitting MIAX Futures will be:

• Bloomberg 500 Index (B500) futures
• Bloomberg US 100 Price Return Index (B100Q) futures

Both are pending Commodity Futures Trading Commission (CFTC) rule filings, a standard regulatory hurdle for new U.S. futures products. If approved, the contracts could give institutional traders and asset managers additional tools for benchmark exposure and index-driven strategies.

Why It Matters

MIAX already operates across multiple asset classes—equities, options, and derivatives—on proprietary platforms known for scalability, determinism, and reliability. By moving into futures, MIAX is signaling ambitions to broaden its footprint in global markets and challenge entrenched players who have long dominated the space.

The Onyx platform is the technological centerpiece here. Built in-house, it’s designed for the high-performance order processing demands of U.S. futures trading. Futures markets thrive—or die—on speed and predictability, so Onyx’s promise of low latency and high reliability will be closely watched.

The Bigger Picture

While CME Group remains the gorilla in futures with benchmarks like the S&P 500 E-mini, the entry of MIAX highlights the gradual diversification of futures marketplaces. Bloomberg-branded indices provide a recognizable foundation for MIAX’s debut, though the question will be whether traders migrate liquidity away from established incumbents.

For MIAX, the timing is strategic. By 2026, demand for alternative benchmarks and regulated, tech-forward venues could create opportunities in a space that has historically been hard to disrupt.

What’s Next

Additional details on MIAX Futures’ rollout will be distributed via the company’s automated alert system, which traders can subscribe to for updates on specs, functionality, and new product launches.

If successful, MIAX’s futures expansion could mark one of the most significant new entrants to the U.S. futures market in recent memory—a rare attempt to chip away at one of Wall Street’s most consolidated trading arenas.